Delton Technology (Guangzhou) (1989) investor relations material

Executive summary

• Revenue for the first half of 2026 reached RMB4.39 billion, up 81.0% year-over-year, driven by strong demand from computing power customers, especially in AI server applications, with higher sales prices and volumes.

• Net profit attributable to shareholders rose 94.4% year-over-year to RMB955.6 million, reflecting improved operational efficiency and product mix optimization.

• Major capacity expansions and technology upgrades are underway in Guangzhou and Thailand, with new facilities expected to come online in late 2026 to meet growing demand.

• The company completed a successful H-share listing in Hong Kong in March 2026, raising net proceeds of approximately HK$3.18 billion.

• The core business is the research, development, production, and sale of multilayer and high-layer-count PCBs, with server PCBs accounting for about 90% of revenue.

Financial highlights

• Revenue: RMB4,388.3 million for H1 2026, up 81.0% year-over-year.

• Net profit: RMB955.6 million, up 94.4% year-over-year.

• Basic EPS: RMB2.14, up from RMB1.16 in H1 2025.

• Gross margin improved as revenue growth outpaced cost increases and due to product mix optimization.

• Net cash from operating activities: RMB936.9 million, up 106.8% year-over-year.

• Total assets: RMB12.91 billion as of June 30, 2026, up from RMB7.54 billion at year-end 2025.

• Net assets: RMB7.93 billion, nearly doubled from year-end 2025.

Outlook and guidance

• The global PCB market is forecast to grow 18.8% in 2026, with high demand for AI, data center, and high-performance computing applications.

• The company expects continued revenue and profit growth, leveraging capacity expansions, technological leadership, and customer-centricity.

• Strategic focus areas include advanced server PCBs, high-level HDI, next-gen communications, and automotive electronics.

• Ongoing investments in R&D, digital transformation, and ESG initiatives are expected to support long-term competitiveness.

• Emphasis on supply chain security and new production lines to support future growth.